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lows. >>> and shares of kpn plunge after carlos slim and america movil says it could drop the bid for the telecom group following a dutch foundation's move to block the takeover. >>> zurich insurance says it is looking into whether undue pressure was put on its late cfo before his death. also confirming the presence of a suicide note that mentions joseph ackermann. >>> hello, welcome to the last "worldwide exchange" of the week. plenty to get through, though, on today's program. l'oreal jumped. is the world's biggest cosmeticmaker putting on the final touches to buy a stake of nestle. >>> hamburg is one of the world's busiest ports. we'll be in hamburg to discuss at 10:35 cet. david cameron says he won't override the british parliament of syria, we'll speak to a former u.s. ambassador of saudi arabia to get his take on the latest developments. robert jordan at 10:30 cet. while politician disease bait military strikes on syria, won atack push oil prices to record highs as prices are steady after midweek surge. more on than in an hour and a half. august comes to a close, we'll look
will also increase just a little bit, led by higher nonopec production, dropped stronger in north america expected to lift its second half total average of 1.4 million barrels a day. opec crude supplies edged down in july, global refinery crude demand surging in june. it is by 3.1 million barrels per day, highest monthly increase on record. ahead of the autumn maintenance. that's the latest iea report. nymex trading at 10404. jason joins us now. good to see you. the monthly increase on record in global refinery crude demand, 3.1 million barrels per day in june. where do we go now? >> well, essentially if we're looking at just one month number, you can get some distortions. essentially asia was going through the heaviest refinery maintenance period on record in may. that monthly surnl we're not concerned about. the numbers to rightly focus on are demand growth, which has been actually reasonably robust given the economic backdrop and supply growth out of the united states. we think that demand growth is going to be still reasonably robust and going to support prices that will move up into
parts of its steel americas unit. the troubled german steelmaker has been struggling to unload the unprofitable division. the company will now hang on to the brazilian steel mill, but will continue with the sale of its processing plant in alabama. thyssenkrupp is due to report earnings after the bell in europe today with pressure increasing on management to raise new capital to shore up the balance sheet. shares in thyssenkrupp today are falling by around 1.5%. >>> a warning over plunging wholesale power prices spooked investors in german utility giant e.on after earnings came in better than forecasts. annette joins us from frankfurt. good morning. >> i think personally that those investors have been spooked quite a bit if we look at the share price development. they had a ten-year low and that well explains why the shares are now up on that -- have to say little bit of better than expected earnings in terms of ebda and underlying that income came in a bit better than expected. the company said they're sticking to their guidance of 2,013, but apart from theat, there is not a lo
each day. i was a chemistry major in college, and then... i joined teach for america. that's the reason i'm here. >> when to buy? when to sell? it's all about time. that's right, you could have the best stock picks in the world, it wouldn't mean a thing for your portfolio if you didn't have a sense of timing. i am a believer that non-professionals can manage the money just as well as the pros, sometimes better. that's why i come out to teach. you may have heard from the naysayers, intelligencia, it's possible to beat the market and outperform the benchmarks, that's like the s&p 500, as long as you know what you are doing and think like a disciplined investor rather than a gambler. if you are devoted and inclined to learn about stocks, my experience is that you will most likely beat many money managers and you will be able to take taxable gains and losses when they suit you, not the manager, a very important issue concerning the importance of taxes and long-term performance. right? a huge part of knowing what you are doing is having decent timing or knowing enough to make, not to make bo
.s., the focus turning to the nonfarm payrolls report tomorrow. is america's labor market on the mend? we'll talk about that when we come back. [ male announcer ] it's time. time to have new experiences with a familiar keyboard. to update our status without opening an app. to have all our messages in one place. to browse... and share... faster than ever. ♪ it's time to do everything better than before. the new blackberry q10. it's time. >>> recap of the headlines if you've been with us this morning, global manufacturing picks up as data shows a return to growth in europe and china. society generale, a boost in earnings. no such luck for oil giant shell as second quarter sends shares lower in london. and those are the headlines. still to come on the program, decision day as well for the bank of england. investors look out for clues on qe and forward guidance and discuss what is coming up. [ male announcer ] come to the golden opportunity sales event and experience the connectivity of the available lexus enform, including the es and rx. ♪ this is the pursuit of perfection. ♪ [ agent smith ] i
king even in a bull market. stay with cramer. >>> i'd like to know, are you long america? >> we at ford in the united states are competing with the best companies in the world. >> look at the global competitiveness of american companies by any measure. >> my life story can be your life story. you can start with nothing in america and create the american dream. [singing] hoveround takes me where i wanna go... where will it send me... one call to hoveround and you'll be singing too! pick up the phone and call hoveround, the premier power chair. hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair, deliver your chair, and will service your chair for as long as you own your chair. most importantly, 9 out of 10 people got their hoveround for little or no cost. call now for your free dvd and information kit. you don't really have to give up living, because you don't have your legs. hoveround replaced the legs. and now every hoveround comes with this handy tot
markets. >> asia, latin america, africa and the middle east continue to be much better than mature markets. but not as strong as they were before. what we see on the functional side is media investment management, media planning and buying growing strongly. >> now, chinese banks, the world's most profitable bank, icbc added to its bottom line with a 12% rise in first half profit on the year. it beat second quarter forecasts earning nearly 70 billion yuan. yesterday, number three lender ag bank rode higher fees to a 2% gain in profits but they're warning of challenges ahead, including a rise in bad loans and narrower interest margins. earlier results from china construction bank, bank of communications reflected a slowdown in profit growth. chairman for sterling finance hong kong and joins us now, stuart, good evening to you. thank you for joining us. these are banks that are beating the forecast numbers, but will investors focus less on that and more on the problems that they have highlighted? >> it is always nice to see the results coming through a bit stronger than analyst expectations a
against america, britain, because we have got much, much more firepower than him, but this guy may not be rational. >> yeah. risks are large. hugo, stick around. plenty more to talk about. i want to get your views on mr. carney as well. >>> in japan, officials have signalled to the world that the fukushima nuclear plant's troubles are serious. we have the story from tokyo. >> japan's nuclear regulation authority said it has officially raised the rating of the latest radioactive water leak at fukushima daiichi nuclear plant to level three. that means it now registers as a serious incident on the international nuclear event scale and comes after consultations with international atomic energy agency. to put it in perspective, the initial meltdown at the plant after the march 11 quake and tsunami was categorized as a level seven, the highest rating. the plant's operator tokyo electric power revealed last week that 300 tons of highly radioactive water leaked from a storage tank at the facility. since then, tepco shares have plunged around 17%. tepco is still not sure when exactly the le
to emphasize america. is there a sense that some of those stocks that had -- we were buying because they had emerging market growth have suffered slightly? >> chinese economy has gone through a massive change at the moment and will continue to go through a massive change. they have got to make this transition from a very construction, infrastructure led economy to more consumer based economy. and that will not be frictionless. that will be bumps along the way. i'm not saying they can't do it, but will not be frictionless. the chinese have to get much more engaged with the economy. and they'll have to stimulate growth in other areas other than just moving roads, trains, bridges, et cetera. they have to really -- >> also the core inflation report today out of the bank of england. waiting to see if we get forward guidance. they'll try to anchor the short end of the bond market. what is your view of gilts at the moment and what is happening with bond funds? >> short-term, long-term, today the inflationary report is the biggest change in uk monetary policy since black wednesday and that sounds li
they really want regarding taxes but angela america cell quite clear there are no tax hikes with her. >> translator: no, i am not worried about that because we have shown that we have managed both in this legislative period from 2009 to 2013. reducing new debt from $50 billion to almost zero this year and zero next year. while at the same time investing in education and research and spending more on child care and spending more on the higher education pact and even making tax reliefs. what has been shown once will work again and trust comes when you show you can do it. we are not just promising this and that, but we say what measures we think are possible and those measures are well thought out. we discussed for a long time what we will do next and we cannot do. we are all parties, by the way, bound by the debt break which will already come into effect in this legislative period for the federation who only in 2020 for the countries. and, of course, we have to stick to the budgetary consolidation. we are legally oblay gaigatobli. we have to continue to make sure to increase employment
. and it's clear, i go to america regularly. you talk to people in every sector. what they've been able to do is restructure their banks and get real estate going. and those two things are powering the economy forward. so as the u.s. recovers, that's also very good news for asia and the rest of the world. so we are much less worried than we've been in the last four or five years. >> in the last quarter, we saw many analysts being concerned over the new business margins in the u.s. how do you see that evolving, and how did that play out in the last quarter? >> it's a really interesting point. what hatppened in the u.s. is equity markets have gone up and long-term interest rates which matter very much for our industry, and those are two very good things because fundamentally, our revenues, we charge on the asset base. the more assets increase, the higher they are, frankly, the more revenue we get. and the fact that long-term interest rates have increased means that our long-term commitments. so if you look at our book of guarantees, it was 10% at the end of 2012. it's now 2%. so 98% of th
a lot of inconsistencinconsistenc. in the americas, things are going pretty well as they are in northern europe. in southern europe, not as well. in japan, where cisco was doing very well last year, now they have some tough comparisons. also in the rest of asia, it is just a mixed bag. china is an area where cisco continues to have trouble. ceo john chambers said on the conference call cisco is committed to delivering on the financial targets they set, like gross margins being above 60%, like earnings growing faster than revenue in most quarters, well managed businesses do that, he said. and therefore that necessitates the making of the cuts so they are able to roll with the punches and the changes in this environment. he also said that cisco is taking too long to make decisions. he's going to cut out some layers that are slowing cisco down. but the stock tumbled at one point more than 10% after hours. if that is indeed where the stock opens later today, it will be back to the levels where it was back in may. guys, back to you. >> here is a quick look at cisco shares in germany, off by s
for america's premier power chair. hi, i'm tom kruse, inventor and founder of hoveround. now you can do more, see more, enjoy life more. here's why hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair, deliver your chair, and will service your chair for as long as you own your chair. and most importantly, 9 out of 10 people got their hoveround for little or no cost. call now for your free dvd and information kit. and now every hoveround comes with this tote bag and cup holder for handy access to your favorite items. you don't really have to give up living because you don't have your legs. call now for your free consultation. and right now, get this limited edition hoveround america travel mug free with your hoveround delivery. call or log onto hoveround.com right now! >>> welcome back to the show. these are your headlines this friday morning. a technical glitch knocks out trading on the nasdaq, bringing electronic markets under scrutiny. >>> the uk's economy
. and deutsche telekom warning of a profit slowdown in 2013 and looking toward north america for growth. where are the opportunities for this particular sector. we'll talk about that at 11:50 central european time. hope you had your pens and pencils ready. you can find us on e-mail as usual, worldwide@cnbc.com. and you can as per usual find us on twitter. but, again, just coming back to one of the stories breaking on our wires, we're hearing that there has been a quake in western japan. no tsunami warning issued according to dow jones news wires quoting media and magnitude of 2.3 is the magnitude of this quake in western japan. again, no tsunami warning issued. >>> let's move on, though, because china's trading activity in july has given new hope that mainland growth is stabilizing. exports climbed by around 5%. imports surging almost 11%. both figures were a lot better than analysts estimates. the rebound comes as a surprise given china's lackluster trade performance in the past couple of months. that's after authorities clamped down on illegal cash transfers disguised as trade deals. joining
pressures on the united states to lead. and the natural leader is still the united states of america. and we are in a situation that is not that different from that viewpoint from the 1999 in the balkans where an intervention took place in kosovo without a legal authorization from the united nations, but an intervention that was deemed as legitimate because here again, a government was killing its citizens. >> how, though, do you intervene when you're not quite sure who you're supporting? when i look at this from the outside, it's hard to know currently who the so-called rebels are on the ground. obviously we know who the government is, but it's a very delicate balance to play when in all cases you are potentially bound to get it wrong. >> yes. i think you are absolutely right. the risks of intervention with enormous. you don't know whom you are supporting. you don't know what's going to be the reaction of syria, of russia, of iran or even for that matter of china. but you have to compare the risk of intervention with the risk of indifference and inaction. and these risks, in my mind, are ev
confined to north america and africa. not much of the globe, is it? >> it's not a recovery for everyone. but the surge in dynamism is actually why it spread. part of it we suspect has to do with where monetary policy is going around the world. so in the last quarter we basically saw easing policy in a large number of markets. that reflected in our own survey where you see that access to growth capital has become better according to what our members and the ima members are saying. pretty much around all of our major markets. >> yeah. so it's -- okay. so it's -- it's because of monetary policy. what happens if there is a -- it's perceived that that policy isn't going to stick around that long? >> what happens if essentially we have an equivalent of the taper debate elsewhere in the world? >> yeah. >> that's true. we're hoping to see, you know, one or two more quarters of sustained recovery in confidence and investment. but in fairness, the kind of recovery in investment we've seen so far and employment is not something we've seen before on the basis of -- >> this is a really key point, ri
. what we're now seeing is a big growth in members from other markets such as south america or even actually europe and the u.s. so, it's very interesting to see, i think people are wanting to get the traceability from suppliers close to home as well. >> all right, tom, good to see you. thank you for joining us. tom smith from sedex. >>> now, let's give you a look at what's on the agenda in asia tomorrow. it's all about corporate earnings, mostly out of china. china, the troubled ship builder reports along with others. we'll hear from retailer woolworth's and agl energy. >>> all right, before we take a short break, just to recap where european equities are. ifo today came in better than expected. xetra dax down 1.5% along with the cac and ftse mib. t-bill auction out of spain has gone fairly well. we'll turn our attention to italy in the next 15 minutes. and as far as bond markets are concerned, yields are lower, so there's still a risk aversion trade effectively with gold held up, oil a little firmer, stocks off bonds up. that's essentially it. >>> still to come, the reason we got
hoveround america travel mug free with your hoveround delivery. [singing] hoveround takes me where i wanna go. call or log on to hoveround.com to find out where a hoveround can take you! >>> watching "worldwide exchange." i'm ross westgate. a recap of the headlines, the u.s. is expected to report a fourth straight month of solid job gains in july. another encouraging sign, still sluggish economy. >>> the world's biggest automaker raises its outlook after posting record earning s due to strong u.s. sales and a weaker yen. >>> the bank is swinging to 1.4 billion pounds pretax profit in the first half. >>> silvio berlusconi media set trades lower as his tax fraud conviction is upheld. the cfo told cnbc that the former prime minister has no influence on the company. >> we are a normal company. we are a listed company with normal shareholders. the relationship between the company and mr. berle scone is a nrmal relationship between the company and a shareholder. >>> all right. just joining us state side, warm welcome to you. welcome to jobs friday. dow transports, industrials, s&p, russell 2,000
some resistance levels in the stoxx 600. >> interesting survey out by the bank of america merrill lynch. global investors the most bullish on eurozone stocks. most bullish since 2002. from evaluation perspective, yes, i get that. looking very attractive both in terms of uk stocks and eurozone stocks. are the fundamentals -- are they actually justifying this positioning on part of investors? >> i would slightly change your intro to say on normalized evaluation perspective, this is less of a compelling case. i think the difference for you -- >> why is that? >> other regions always trade at slightly different levels. the difference is in the u.s., you're trading on peek margins and high earnings. in europe, you're trading on return on equity levels around 450 basis points lower. they're trading on profitability levels. q-2 earnings season wasn't particularly great and on sales, it gives you the hope in demands. i would definitely be structured positive on european equities. the risk reward balance is slightly different. we have seen a big pickup in the macro indicators in europe, but still
a systematic financial crisis like the subprime crisis that occurred in america in 2008. >> reporter: with china now in one of the biggest credit booms in modern history. eunice yoon, cnbc, beijing. >>> we may be seeing the effects of a slower economy on chinese lenders as they begin to report earnings. we're still expecting results from bank of communications today ahead of china construction bank on friday. analysts are expecting much slower growth from the low single digits on the year as china's merchant bank reported lower profits last week. a rise in bad loans and interest rate forum could put a dent in the bank's profitability. mike warner is senior equity analyst at sanford bernstein. he joins us now from hong kong. mike, thank you so much for taking the time to speak to us this morning. how do you think will chinese bank earnings season shape up? >> i think the results are going to be slightly higher than expected. but we are seeing a slowdown. the profit growth in the mid to high teens simply will not be there anymore for the banks. that's coming down to the low teens. i re
Search Results 0 to 19 of about 20